Elena
07 Nov, 2006
New York City
Volatility put an end to four straight sessions of market gains. Profit-taking in the latter part of trading in select large-caps, such as Reliance Industries, ICICI Bank and Bharti Airtel forced the benchmark index lower. Gujarat Ambuja led the advancers, while Hero Honda and Bajaj Auto declined the most. The government is likely to cut petrol and diesel prices. Finance Minister confirmed the economy will continue to grow at more than 8% annually.
Elena
07 Nov, 2006
New York City
Stocks advanced modestly at opening, as traders awaited the outcome of mid-term congressional elections that could be favorable for the Democrats. Toyota Motor provided a boost in early trading after reporting quarterly profit up 34%. Applied Materials helped tech stocks up after Bank of America raised its price target on the chip maker. The stock rose 1.85%.
Ivaylo
07 Nov, 2006
New York City
Clothing and food retailer Marks & Spencer led the advancers on the FTSE 100 on the back of interim figures that came in right at the top of forecasts. Yellow Pages owner Yell led the decline after pre-tax profit fell. Associated British Foods reported a drop in full year profit after price pressures in its EU sugar businesses. Brewer Scottish & Newcastle also declined despite saying results for the third quarter have been robust. The FTSE 100 moved 0.1% higher to 6,232.5.
Elena
07 Nov, 2006
New York City
Following last session''s strong rally, U.S. stock futures pointed to a flat opening Tuesday as voters headed to the polls for the mid-term Congressional elections. Toll Brothers dropped 2.25% in pre-market trading, as it cut its home delivery forecast for 2007, and reported a 10% decrease in Q4 home building revenue. Elsewhere, Toyota Motor reported a 36% jump in Q1 earnings and lifted its earnings outlook for the year.
Elena
07 Nov, 2006
New York City
The company previously reported that its Q3 loss was $115 million, or 20 cents per share. The narrower profit loss was attributed to additional loan sales that had not been previously reported by its GMAC arm. GM shares rose 0.14% to $34.75 in after-hours trading.
Ivaylo
07 Nov, 2006
New York City
The Nikkei 225 Average in Japan advanced on Sony gains. Investors shrugged off worries over the fundamental midterm congressional elections later Tuesday in the U.S. to concentrate instead on strong gains on US markets. The Hang Seng Index in Hong Kong crossed the 19000-point level for the first time. Australia set a fresh intraday record before retreating slightly. All the other regional markets finished in the green, but for India.
Ivaylo
07 Nov, 2006
New York City
European stocks advanced on Tuesday morning after some positive comments on the U.S. economy from a Federal Reserve official, countering some early earnings-related weakness from companies such as French media giant Vivendi. Oil stocks rose after a bounce in crude oil prices overnight and supported energy shares. By mid morning, London FTSE 100 was flat, Frankfurt Xetra Dax added 0.1%, and the CAC 40 in Paris gained 0.3%.
Ivaylo
07 Nov, 2006
New York City
The late-Friday release of Commodity Futures Trading Commission data showed a jump in the net long position of speculative positions. The large noncommercial market participants raised their holdings in Nymex gold for the first time in eight weeks to 64,716 lots as of last Tuesday, compared with 56,050 the prior week. It wouldn not surprising if the publication of the data on Friday has finally encouraged some profit-taking. The market is holding up very well, given the recent run.
123jump.com Staff
06 Nov, 2006
New York City
Five deals totaling $16 billions supported strong rise in broader averages in the New York and European trading. Hotel Operator Four Seasons CEO offered to take company private at $3.7 billion. Operator of Outback Steakhouse, OSI Restaunrats plans to go private with the help of Bain Capital for $3.2 billion. Goldman Sachs offered to take fork lift division of German company Linde for $4.6 billion. Kinross Gold agreed to buy Bema Gold for $3.1 billion. Abott to buy Kos Pharma for $3.7 billion.
Elena
06 Nov, 2006
New York City
European stock markets posted solid gains Monday, lifted by earnings-inspired gains and deal news in Europe and the U.S. Low-cost airline Ryanair was in the spotlight, rising 2.9% on strong Q3 results. The German DAX 30 advanced 1.43%, the French CAC 40 rose 1.24%, and London
Elena
06 Nov, 2006
New York City
Stocks rallied late Monday, extending gains on the back of significant merger announcements which inspired traders to go bargain hunting following the recent weakness. OSI Restaurant Partners Inc. surged 24% after agreeing to be acquired by a private investor group for about $3 billion.
Elena
06 Nov, 2006
New York City
Consumer goods stocks surged today and helped the benchmark index continue its winning streak. Buying was mainly in large-caps, and some mid-caps also gained. A few cement stocks ended positive on hopes of continued strong demand and a rise in retail prices. Other stocks that gained included stocks in pharma, oil and gas and capital goods sectors. Hindustan Lever led the advance, while Maruti and Bajaj Auto led the decliners. The Central government is likely to cut petrol and diesel prices.
Elena
06 Nov, 2006
New York City
U.S. stocks advanced at opening, boosted by a series of corporate deals in the health-care sector. Abbott Laboratories Inc. said it will acquire Kos Pharmaceuticals for $3.7% billion. Abbott shares fell 1%, while Kos shares soared 54%. Drug wholesaler McKesson said it will acquire rival healthcare concern Per-Se Technologies Inc. Shares of McKesson rose 1% to $49.02 while Per-Se Technologies soared 13%.
Ivaylo
06 Nov, 2006
New York City
Firmer metal prices had miners among the advancers. Xstrata, Vedanta Resources, Rio Tinto and BHP Billiton have all improved. The gaming sector was at the centre of takeover speculation, as Ladbrokes, confirmed it was interested in buying troubled online gaming company 888 Holdings. In early trading, the benchmark index, FTSE 100 gained 45.8 points, or 0.7%.
Elena
06 Nov, 2006
New York City
U.S. stock futures indicated a higher start, recovering from last-week losses, with support given by retreating oil prices and acquisition activity. Four Seasons Hotels received a $3.7 billion buyout bid from investors, including Bill Gates and Saudi Arabia prince. In another deal, McKesson Corp. said it was buying Per-Se Technologies for $1.8 billion.
